Catching moves this morning, EURGBP this time 🏃♂️
Second idea of the trading week sees us trading our EURGBP 15M strategy.
Using POW reversal on this strategy.
Pair is in a rich vein of form and we are looking to go 5 out of 5 with this live short trade.
Printed labels show all the trade details.
Green lines are TP and purple lines SL.
Close to TP but never over until its land so we'll see.
Stats at base of this idea for the strategy.
__________________________________________________________________________________________________________
What is our POW reversal script?
Quiet simply our script is a reversal strategy and can be used on any instrument and time frame.
POW reversal strategy sits within your TradingView and you as the user will see exactly what we see - the trade, entry price, SL and TP values.
This is a mechanical trading system here which through third party services can be automated.
Our script is based on a combination of indicators with the main ingredient being RSI .
As a user using the script you are able to see all available settings and what they are.
The values for each setting can be adjusted to fit and suit each individual instrument as well as the time frame said instrument is being used on.
We know upon changing settings if they will work on the trading instrument and the time frame being worked as we have coded in a built in strategy tester.
A big overlooked not used enough feature of TradingView's pine code is the strategy tester which saves hours of time not having to manually back test a strategy.
Having the data in an instant enables us to enter trades with full confidence knowing we are working a proven system.
Having the built in strategy tester also doubles up as a live trading journal too as the strategy tester will confirm and support every open and closed position.
We are working to a rules based approach to trading for our entry, exit and risk management.
All subjectivity and emotions are removed we simply follow and execute the already tested strategy.
My latest trade recap video can be seen below and gives great insight into POW tradingview pine scripts we use
Thanks for looking at my idea 👍
Darren
More Info here: www.team-pow.com
Using POW reversal on this strategy.
Pair is in a rich vein of form and we are looking to go 5 out of 5 with this live short trade.
Printed labels show all the trade details.
Green lines are TP and purple lines SL.
Close to TP but never over until its land so we'll see.
Stats at base of this idea for the strategy.
__________________________________________________________________________________________________________
What is our POW reversal script?
Quiet simply our script is a reversal strategy and can be used on any instrument and time frame.
POW reversal strategy sits within your TradingView and you as the user will see exactly what we see - the trade, entry price, SL and TP values.
This is a mechanical trading system here which through third party services can be automated.
Our script is based on a combination of indicators with the main ingredient being RSI .
As a user using the script you are able to see all available settings and what they are.
The values for each setting can be adjusted to fit and suit each individual instrument as well as the time frame said instrument is being used on.
We know upon changing settings if they will work on the trading instrument and the time frame being worked as we have coded in a built in strategy tester.
A big overlooked not used enough feature of TradingView's pine code is the strategy tester which saves hours of time not having to manually back test a strategy.
Having the data in an instant enables us to enter trades with full confidence knowing we are working a proven system.
Having the built in strategy tester also doubles up as a live trading journal too as the strategy tester will confirm and support every open and closed position.
We are working to a rules based approach to trading for our entry, exit and risk management.
All subjectivity and emotions are removed we simply follow and execute the already tested strategy.
My latest trade recap video can be seen below and gives great insight into POW tradingview pine scripts we use
Thanks for looking at my idea 👍
Darren
More Info here: www.team-pow.com
